Defined contribution investment-only firms have a ways to go in trying to win the loyalty of plan advisory firms.
Despite what it terms "significant investment of resources" in value-added programs, a study by Chatham Partners reveals that the DC industry only hits 73.5 on a scale of 100 in terms of loyalty.
The study sought a way to quantify advisor and broker/dealer loyalty, and created a proprietary index for each that measures the effectiveness of value-added programs in creating awareness, differentiating and driving incremental sales. While some firms did very well, standing out as leaders among their peers, the study found that the industry as a whole has room to improve.
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